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Post by johnc on Aug 10, 2022 8:16:27 GMT
I played golf yesterday with a guy who had just sold his Melbourne (Australia) Audi dealership. He told me that expensive cars are hard to shift in Australia because anything costing more than A$60,000 gets slapped with 25% car tax. That is about £30,000 so not exactly expensive car territory here and as you might imagine there are lots of cars priced at $59,995 and a fairly brisk trade in some post sale upgrades. Bloody Politicians meddling again.
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Post by Ben on Aug 10, 2022 13:05:45 GMT
Not exactly surprising. Happens in lots of countries too in some form or another.
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Post by chipbutty on Aug 10, 2022 13:51:57 GMT
Is that 25% on top of VAT (or the Aussie equivalent).
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Post by johnc on Aug 10, 2022 14:15:12 GMT
Is that 25% on top of VAT (or the Aussie equivalent). No idea! |
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Post by PG on Aug 10, 2022 15:15:02 GMT
Is that 25% on top of VAT (or the Aussie equivalent). Australia has GST (like VAT) and from memory it is about 10%. I googled the "luxury car tax". It was brought in to tax luxury imported cars at 30% over the threshold level set as the upper level. However, now that Australia does not have a domestic car industry, it's a tax on all "expensive" cars. But of course it has not been changed! |
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Post by Alex on Aug 10, 2022 16:06:22 GMT
Is that 25% on top of VAT (or the Aussie equivalent). Australia has GST (like VAT) and from memory it is about 10%. I googled the "luxury car tax". It was brought in to tax luxury imported cars at 30% over the threshold level set as the upper level. However, now that Australia does not have a domestic car industry, it's a tax on all "expensive" cars. But of course it has not been changed! Trouble is these days £30k doesn't get what most would consider to be an expensive luxury car. I dont think you can get a base 3 series or A4 for that money and most 1 series or A3s will be over that if you want anything bigger than the base engine and a few options. Maybe that's why they're moving to an aftermarket subscription model for their optional extras. |
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Post by Bob Sacamano v2.0 on Aug 10, 2022 16:30:08 GMT
I have friends in Oz and they occasionally paste links to vehicles they are interested in and the prices seem ridiculously high/optimistic. Old Land Cruisers seem to go for daft money.
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Post by johnc on Aug 10, 2022 16:44:45 GMT
The guy I was with yesterday said that an RS6 was in excess of A$250,000 as a base price!
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Post by Martin on Aug 10, 2022 17:03:53 GMT
Unfortunately it didn’t help their domestic car industry. Presumably residual values are a lot higher as a result, which should narrow the gap?
It’s Singapore prices that make my eyes water, the £100k in UK, £145k in Australia RS6 would be £350k in Singapore!
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Post by PG on Aug 11, 2022 10:19:55 GMT
The slide into envy=based taxation of anything really annoys. More and more. It's always dressed up as good for this, or to offset that, but at its heart is the core message that "you can afford this and we hate you for it so we are going to tax you for it". They are all ownership taxes - none of them meet a key taxation requirement in my view - that taxaes should be on income or activity, never ownership.
The UK is sliding more and more that way. Brown accelerated it and it has not ever been reversed but accelerated. First year tax on new cars; road tax on expensive cars; road tax on bigger engines cars; council tax; stamp duty; IHT; CGT rates; etc etc.
I expect that UK penal taxes on polluting petrol and diesel cars will omy accelerate as the 2030 ICE cut off approaches. Whoever is in power.
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Post by Ben on Aug 11, 2022 13:41:55 GMT
Unfortunately it didn’t help their domestic car industry. Presumably residual values are a lot higher as a result, which should narrow the gap? It’s Singapore prices that make my eyes water, the £100k in UK, £145k in Australia RS6 would be £350k in Singapore! Yeah tell me about it... |
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Post by rodge on Aug 12, 2022 15:35:59 GMT
Unfortunately it didn’t help their domestic car industry. Presumably residual values are a lot higher as a result, which should narrow the gap? It’s Singapore prices that make my eyes water, the £100k in UK, £145k in Australia RS6 would be £350k in Singapore! Yeah tell me about it... Brand new Avant for sale in Ireland for €199,000 www.joeduffy.ie/vehicle/audi-rs6-221d518037-2112Expensive but not Singapore expensive… |
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Post by Grampa on Oct 26, 2022 10:37:48 GMT
When I was in Australia even 30 years ago, the price of cars was eye watering - the friends we stayed with had a old Holden (same as a Vauxhall Carlton at the time) - for a car that would have been £500 in the UK, they paid £4,000.
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Post by michael on Oct 26, 2022 20:51:40 GMT
Trying to buy property as a foreigner is equally prohibitive. You’re restricted as to new builds or development and you’re stung for punitive taxes for the pleasure of ownership.
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Post by LandieMark on Oct 27, 2022 7:37:34 GMT
That must be a recent thing. We had an investment property near Perth that we did very well out of some years ago. The taxes weren't much IIRC.
We sold it for a profit and made a decent profit turning the AU$ back into £.
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